If you sometimes wonder who you are on the list for Africa’s Top 10 Billionaires for 2014 then check out this compilation. These richest people in Africa either started their own business or inherited their wealth. All of them are entrepreneurs and own their various businesses.
1. Aliko Dangote, $12.2 billion [Nigerian]
Funding Source: Cement, Sugar, Flour
Aliko Dangote, born in Nigeria, holds the position for the richest man in Africa for 3 years in a row. Dangote is $4.9 billion richer compared to 2012 as its holdings in Nigerian blue chips such as Dangote Sugar, Dangote Cement, National Salt, Zenith Bank and Company of Nigeria etc. have risen sharply. In 2013, FORBES accounted for additional properties including his personal portfolio of homes, yachts and jets. He began making his fortune trading commodities such as flour, sugar and cement more than three decades ago, but turned out to be a billionaire by manufacturing the items. The admired philanthropist has donated more than $100 million to education, health, poverty alleviation and flood relief.
2. Nicky Oppenheimer & Family, $7.7 billion [South African]
Funding Source: Diamonds
In November 2011, Nicky sold a 40% stake in his family’s stake in the world’s leading diamond producer De Beers for $5.1 billion. This spelled the end of family control over De Beers, a relationship that began when Oppenheimer’s grandfather, Ernest Oppenheimer, was forced to take over the company in 1927. The Oppenheimers are investing through Tana Africa Capital, a $300 million private equity joint venture with Singapore state investor Temasek.
3. Johann Rupert & Family, $7.2 billion [South African]
Funding Source: Luxury Goods
Now the richest man in South Africa and one of Africa’s top 10 billionaires, Rupert was President of the Swiss-based luxury goods company Compagnie Financiere Richemont, which controls premium brands such as Alfred Dunhill, Cartier, Vacheron Constantin, Montblanc and Chloé, which are the source of his wealth . Johann is also involved in the investment companies Reinet and Remgro.
4. Nassef Sawiris, $6.8 billion [Egyptian]
Funding Source: Construction
Nassef Sawiris is the head of Egypt’s most expensive listed company Africa’s Top 10 Billionaires According to Forbes, Orascom ConstructionIndustries (OCI). In January 2013, he announced that the company would exchange the company’s global depositary receipts for newly issued shares in OCI NV on the NYSE Euro next in Amsterdam. The renowned Bill Gates was part of the US consortium of investors that offered $1 billion to cover payments to shareholders offering their OCI shares for cash.
5. Mike Adenuga, $5.3 billion [Nigerian]
Revenue Source: Telecom, Oil
Mike Adenuga, the lone billionaire, owns Nigeria’s second largest mobile network, Globacom. Globacom has 24 million customers in Nigeria and operates in Benin. It also holds licenses in Ivory Coast and Ghana. Mike also owns Conoil Production, one of the largest independent exploration companies in Nigeria, and a controlling interest in petroleum marketing company Conoil PLC.
6. Issad Rebrab, $4 billion [Algerian] Source of
income: groceries
Issa Rebrab has made the list of top African billionaires for the last few years. He’s the founder and CEO of Cevital, Algeria’s largest private company, and Rebrab seems keen to keep the family together, with five of his children working for him. The company has one of the largest sugar factories in the world with a production capacity of 2 million tons per year. As part of its business strategy, Cevital has bought up ailing European companies such as Groupe Brandt, a French home appliance maker. The company now plans to build a steel mill in Brazil to make even more money by making railroad tracks and improving transportation logistics for exporting sugar, corn and soybean flour.
6. Naguib Sawiris, $4 billion [Egyptian]
Funding Source: Telecom
Naguib, the eldest son of Onsi Sawiris, an Egyptian billionaire and one of Africa’s top 10 billionaires , has almost his entire stake in Vimpelcom, the Russian telecom, which contracted the family’s telecoms in 2011 in cash and shares. Naguib’s Orascom Telecom Media and Technology has a 75% stake in Koryolink, a North Korean single-cell network.
8. Koos Bekker, $2.8 billion [South African]
Source of income: media, investments
Koos Bekker did the impossible when he invested in Chinese internet and media company Tencent in 2001 through his Naspers, the South African newspaper publisher. As CEO, he managed to grow Naspers into an e-commerce investor and cable TV powerhouse. He became CEO in 1997 and oversaw a rise in Naspers’ market capitalization from around $600 million to $45 billion. He was compensated by temporary stock option awards. He retired as CEO of Naspers in March 2014 but returned as chairman in April 2015.
9. Isabel dos Santos, $2.7 billion [Angolan]
Revenue Source: Investments
Isabel dos Santos was the richest woman in Africa for several years and this time she made it into the top ten. As the eldest daughter of Angola’s former leader, Jose Eduardo dos Santos, her wealth is sometimes disputed. In June 2016, her father appointed her head of Angola’s state-owned oil company, Sonangol. However, Angola’s new president replaced her in November 2017. Former President Jose Eduardo dos Santos transferred several stakes in Angolan companies to his daughter over the years. However, Isabel dos Santos has also acquired stakes in Portuguese companies including telecommunications and cable television company Nos SGPS.
10. Mohamed Mansour, $2.7 billion [Egyptian]
Revenue Source: Diversified
Mohamed Mansour took over the Mansour Group founded by his father Loutfy Mansour. The company has grown into one of the largest General Motors distributors in the world and Mansour also owns the exclusive distribution rights for Caterpillar equipment. Mohamed Mansour was Egypt’s transport minister under Hosni Mubarak’s regime.